Energia
Minesto and electric utility SEV extend PPA and plan for scale-up in Vestmannasund
The PPA with SEV was first signed in February 2020 and comprises up to 2.2 MW installed capacity of Minesto's ocean energy technology in the Faroe Islands . The first phase of collaboration between Minesto and SEV, to integrate tidal energy through Minesto's Deep Green technology in the Faroe Islands , has focused on an EU-funded project where two grid-connected DG100 systems have been installed and operated in the Vestmannasund strait.
As part of the final delivery of that project, a site extension analysis concludes that the Vestmannasund site has merits for a commercially viable smaller array of up to 4 MW.
, said Martin Edlund .
" said Hákun Djurhuus, CEO at SEV.
Martin Edlund , CEO
+46 31 29 00 60
press@minesto.com
Minesto is a leading marine energy technology company with the mission to minimise the global carbon footprint of the energy industry by enabling commercial power production from the ocean.
Minesto's award winning and patented product, Deep Green, is the only verified marine power plant that operates cost efficiently in areas with low-flow tidal streams and ocean currents.
With more than €40 million of awarded funding from the European Regional Development Fund through the Welsh European Funding Office, European Innovation Council and InnoEnergy, Minesto is the European Union's largest investment in marine energy to date.
Minesto was founded in 2007 and has operations in Sweden , Wales , Northern Ireland and Taiwan . The major shareholders in Minesto are BGA Invest and Midroc New Technology. The Minesto share (MINEST) is traded on Nasdaq First North Growth Market. Certified Adviser is G&W Fondkommission, email: ca@gwkapital.se, telephone: +46 8 503 000 50.
Read more about Minesto at www.minesto.com
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https://news.cision.com/minesto-ab/r/minesto-and-electric-utility-sev-extend-ppa-and-plan-for-scale-up-in-vestmannasund,c3411530
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